Correlation Between SentinelOne and Evaluator Tactically

Can any of the company-specific risk be diversified away by investing in both SentinelOne and Evaluator Tactically at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining SentinelOne and Evaluator Tactically into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between SentinelOne and Evaluator Tactically Managed, you can compare the effects of market volatilities on SentinelOne and Evaluator Tactically and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in SentinelOne with a short position of Evaluator Tactically. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and Evaluator Tactically.

Diversification Opportunities for SentinelOne and Evaluator Tactically

0.08

Correlation Coefficient

SentinelOne  Evaluator Tactically

Significant diversification

The 3 months correlation between SentinelOne and Evaluator is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Evaluator Tactically Managed in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Evaluator Tactically and SentinelOne is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on SentinelOne are associated (or correlated) with Evaluator Tactically. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Evaluator Tactically has no effect on the direction of SentinelOne i.e., SentinelOne and Evaluator Tactically go up and down completely randomly.

Pair Corralation between SentinelOne and Evaluator Tactically

Taking into account the 90-day investment horizon SentinelOne is expected to generate 7.09 times more return on investment than Evaluator Tactically. However, SentinelOne is 7.09 times more volatile than Evaluator Tactically Managed. It trades about 0.02 of its potential returns per unit of risk. Evaluator Tactically Managed is currently generating about 0.07 per unit of risk. If you would invest  1,667  in SentinelOne on April 21, 2025 and sell it today you would earn a total of  134.00  from holding SentinelOne or generate 8.04% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

SentinelOne  vs.  Evaluator Tactically Managed

SentinelOne

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in SentinelOne are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak basic indicators, SentinelOne unveiled solid returns over the last few months and may actually be approaching a breakup point.

Evaluator Tactically

Risk-Adjusted Performance

Very Strong

Compared to the overall equity markets, risk-adjusted returns on investments in Evaluator Tactically Managed are ranked lower than 31 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Evaluator Tactically may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Pair Trading with SentinelOne and Evaluator Tactically

The main advantage of trading using opposite SentinelOne and Evaluator Tactically positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, Evaluator Tactically can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Evaluator Tactically will offset losses from the drop in Evaluator Tactically's long position.

The idea behind SentinelOne and Evaluator Tactically Managed pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..